E244: Exit Strategy 2.0: Essential Steps Entrepreneurs Must Take to Maximize Value Before Selling

How2Exit: Buy, Don't Build - M&A of Small Businesses

Watch Here: https://youtu.be/DeV-vW3d6-0
About the Guest(s): Ian Smith is the founder of The Portfolio Partnership, a consulting firm that helps businesses become more attractive to buyers. Starting as a Scottish Chartered Accountant, Ian moved into mergers and acquisitions, with over 15 years in investment banking in London, leading numerous successful deals. In the U.S., he turned around software businesses before founding his firm. Ian is also the author of books like *Fulfilling the Potential of Your Business* and *The Acquirer's Playbook*.
Summary: In this episode of the How2Exit, Ronald Skelton interviews Ian Smith, founder of The Portfolio Partnership, about strategies for successful mergers and acquisitions. Ian shares his journey from accountant to investment banker, highlighting the importance of building businesses from a buyer's perspective by focusing on unique positioning, reducing dependency, and creating repeatable processes for scalable and profitable growth.
Key Takeaways:

• Look Through the Lens of a Buyer: Transform your business by understanding what makes it attractive to potential buyers, focusing on unique positioning, reducing dependencies, and establishing repeatable processes.
• Importance of Unique Positioning: Carve a niche for your business to reduce competition and be highly attractive to buyers.
• Addressing Dependencies: Reduce dependency on the owner, key customers, technology, and legacy products to mitigate risks that deter potential buyers.
• Repeatable Processes: Develop and document processes that ensure scalability and allow the delegation of tasks to less experienced team members.
• Preparation for Exit: Engage in exit planning well in advance to address value leakage and ensure a smooth transaction when selling the business.

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Contact Ian on
Linkedin: https://www.linkedin.com/in/iandsmithca/
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How2Exit Joins IT ExchangeNet's Channel Partner Network!
-Why IT ExchangeNet?
Since 1998, IT ExchangeNet has created $5 billion in value by selling more than 225 IT businesses in 20 countries. IT ExchangeNet works exclusively with IT-enabled businesses generating between $5M and $30M who are ready to be sold, and M&A decision-makers who are ready to buy. For over 25 years IT ExchangeNet has developed industry knowledge that helps them determine whether a seller is a good fit for their buyers before making a match.
"Out of all of the brokers I've met, this team has the most experience and I believe the best ability to get IT service businesses sold at the best price" - Ron Skelton
The IT ExchangeNet M&A Marketplace we partnered with has a proprietary database of 50,000+ global buyers seeking IT Services firms, MSPs, MSSPs, Software-as-a-Service platforms, and channel partners in the Microsoft, Oracle, ServiceNow, and Salesforce space.
If you are interested in learning more about the process and current market valuations, complete the contact form and we’ll respond within one business day. Everything is kept confidential.
Are you interested in what your business may be worth? Unlock the value of your IT Services firm, visit https://www.itexchangenet.com/marketplace-how2exit and complete the contact form.
Our partnership with IT ExchangeNet focuses on deals above $5M in value.
If you are looking to buy or sell a tech business below the $5M mark, we recommend Flippa.
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